Report: West Sac home prices fall 26 percent in a year - Sacramento Business Journal:

Report: West Sac home prices fall 26 percent in a year - Sacramento Business Journal:: "Sacramento Business Journal - December 21, 2006
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Report: West Sac home prices fall 26 percent in a year
Sacramento Business Journal - 12:33 PM PST Thursday

Sacramento-area's median home price plummeted and sales tumbled in November from a year earlier, the latest evidence of a struggling real estate market.

Home prices in the four-county region declined 3.9 percent to $365,000 in November compared to a year ago, according to a California Association of Realtors (CAR) report released Thursday. But several markets -- including Elk Grove and West Sacramento -- reported much larger price drops.

Existing-home sales fell 24.5 percent last month in the Sacramento area compared to November 2005, according to the closely watched monthly report. The region's sales drop was one of the largest in the state.

'There is a mixed picture across the state, with more regions reporting year-to-year declines than increases at this point,' said Leslie Appleton-Young, vice president and chief economist for CAR. 'We've seen three or more months of year-to-year price declines in areas where there"